Forum: Management
April 27, 2008
Coop Management Company needed!
Help!
We need a management company for our 31 unit coop building. The current company is useless beyond belief. There is a 'partime super" in the building but I am not quite sure what he does. I know his wife takes out the trash.
Thanks for any help or suggestions!
April 19, 2008
Property Management company recommendations
Would anyone be kind enough to recommend a respectful, honest, and cost-effective management company?
I kept my first property in Brooklyn as a rental instead of selling it, but have grown tired of looking after tenants myself!
Sincere thanks for any recommendations, and also any advice on rates and questions I should ask prospective companies.
April 8, 2008
Maint/Supervision For a Small Building
Does anyone have an idea of what to pay someone to come in and do condo maintenance duties (trash, sidewalk, lightbulbs, etc.)? We have a 15-unit building and I was wondering what this costs.
March 25, 2008
commercial laundry
we have a 30-unit building and our service ageement is up with our laundry provider. anyone have experience taking this in-house instead of re-uping with provider? about half of our units currently use the basement laundry
March 14, 2008
Co-op management question
We live in a small (5 unit) co-op, and we don't use any kind out outside management company. The only problem is this -- although we've lived here for 3 years we have never seen any kind of financial statement other than year-end tax documents. There is 1 tenant who is in charge of keeping track of maintenace payments, bills, banking etc., and there's no other review of any of the finances. Does this seem odd to anyone else? I get shot down whenever I suggest a more formal accounting system (i.e., monthly statements or even an outside accountant). Am I being crazy or is this a bad situation? Does anyone else have a similar arrangement?
March 7, 2008
Anyone Know what annual inspections are required for a condo building with 7 units?
Trying to find out what the annual building requirements are for our building. The developer is a lump of loose stool, and has been of no help to us in determining what needs to be inspected annually. We know we need the sprinkler system and the boiler checked. But is there anything else? Anyy help would be more of a help than our developer has been.
March 6, 2008
Our Building Is Broke!
... not quite, but our 40-unit elevator prewar building is on tough times.
We have a substantial reserve fund, but that is about to be slaughtered by two unexpected and potentially large (100K each) expenses. There was no real way to foresee these charges, and I can't blame previous boards. So here we are.
What should we do now?
We have a small flip tax which generates very little revenue since nobody seems to move. We have precious little other revenue (bike storage, resident lockers, etc).
Any idea how people raise money? Should we use the reserve -- leaving us with 75kish, a small amount for a large building? Should we impose an assessment? (We have lots of older residents for whom a 5k charge could be too much). Should we raise maitanence fees -- we've done this so many times in recent years to keep up with heating, etc., and I think we're already slightly above market. The building runs at just a barely break-even point now. We can't refinance for several years. A bake sale? Just kidding - but would love creative ideas about raising capital.
The building itself is in great shape with no other projects in the near future (he said hopefully).
January 31, 2008
Condo Assoc. + Taxes
We have a 4 owner condo association for our brownstone and was wondering if anyone knew if our assoc needs to file taxes each year? Is it as simple as filling out a 1120-H and sending it in?
January 30, 2008
Accountant for Condo tax returns?
We are a small (6-unit), self-managed condo in search of a reasonable, experienced accountant or firm to prepare and file our taxes. Our annual revenues are only $15,000 and our current firm wants us to pay $1,000 for their work. Ack.
Anyone to recommend for this small, annual task?
January 28, 2008
Brownstone Property Management
Has anyone ever had experiece with this company, Brownstone Management?
http://www.amny.com/business/am-farnoosh0619,0,5732633.story?coll=am-business-utility
http://brownstonemgt.com/index.html
Any feedback would be appreciated!